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NHPC Limited
(NHPC)
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Rating:51Neutral
Price Target:
₹77.00
▼(-7.92% Downside)
Action:Reiterated
Date:08/18/26
The score is held back primarily by deteriorating cash flow and sharply negative free cash flow, alongside rising leverage and weakening returns. Technical indicators also lean bearish with the stock below major moving averages and negative MACD. Valuation is only moderate (P/E ~20) and the low dividend yield provides limited downside support.
Positive Factors
Integrated hydropower platform
Control across project development, engineering, construction management and generation can retain more value and support execution of future capacity. It also diversifies the platform beyond reliance on third-party generation assets.
Negative Factors
Severely weak cash generation
Sharp deterioration in operating cash flow and deeply negative free cash flow show that reported profits are not converting reliably into cash. Persistent funding needs could constrain investment flexibility and increase execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated hydropower platform
Control across project development, engineering, construction management and generation can retain more value and support execution of future capacity. It also diversifies the platform beyond reliance on third-party generation assets.
Read all positive factors
NHPC Limited (NHPC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹765.43B
Dividend Yield2.11%
Average Volume (3M)1.12M
Price to Earnings (P/E)20.1
Beta (1Y)1.05
Revenue Growth12.02%
EPS Growth24.12%
CountryIN
Employees4,634
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)3.78
Shares Outstanding10,045,034,000
10 Day Avg. Volume870,126
30 Day Avg. Volume1,122,519
Financial Highlights & Ratios
PEG Ratio0.77
Price to Book (P/B)1.79
Price to Sales (P/S)6.37
P/FCF Ratio-6.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.56
Revenue Forecast (FY)₹177.40B
NHPC Limited Business Overview & Revenue Model
Company Description
NHPC Limited, an Indian enterprise established in 1975 and headquartered in Faridabad, is a prominent entity in the nation's electricity sector. Through its subsidiaries, the company's primary business involves generating and supplying power deriv...
How the Company Makes Money
NHPC makes money mainly by generating electricity (predominantly from hydropower plants it owns and operates) and selling that power to buyers under power sale arrangements, typically to state distribution utilities and other eligible customers. I...
NHPC Limited Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
56
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 122.10B | 116.15B | 103.74B | 92.52B | 104.79B | 90.62B |
| Gross Profit | 95.92B | 73.20B | 90.79B | 80.39B | 91.58B | 78.74B |
| EBITDA | 67.83B | 63.09B | 89.98B | 82.16B | 82.50B | 71.76B |
| Net Income | 43.56B | 27.82B | 30.07B | 35.96B | 39.03B | 35.24B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.20T | 1.03T | 932.95B | 890.86B | 772.85B |
| Cash, Cash Equivalents and Short-Term Investments | 36.62B | 36.62B | 27.51B | 36.35B | 37.87B | 17.28B |
| Total Debt | 0.00 | 523.27B | 415.74B | 345.78B | 315.57B | 260.96B |
| Total Liabilities | -484.05B | 716.06B | 575.15B | 494.03B | 443.73B | 396.89B |
| Stockholders Equity | 484.05B | 414.37B | 396.68B | 387.02B | 368.99B | 349.21B |
Cash Flow | ||||||
| Free Cash Flow | -35.11B | -107.63B | -38.25B | -596.40M | -2.68B | 14.57B |
| Operating Cash Flow | 15.83B | 8.09B | 50.26B | 69.38B | 46.92B | 64.72B |
| Investing Cash Flow | -50.46B | -100.73B | -75.50B | -59.68B | -42.46B | -49.66B |
| Financing Cash Flow | 38.04B | 103.46B | 19.04B | -5.81B | -7.96B | -6.38B |
NHPC Limited Technical Analysis
Negative
83.62
Price Trends
78.08
Negative
78.28
Negative
77.58
Negative
Market Momentum
-0.64
Positive
40.96
Neutral
11.77
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NHPC, the sentiment is Negative. The current price of 83.62 is above the 20-day moving average (MA) of 77.53, above the 50-day MA of 78.08, and above the 200-day MA of 77.58, indicating a bearish trend. The MACD of -0.64 indicates Positive momentum. The RSI at 40.96 is Neutral, neither overbought nor oversold. The STOCH value of 11.77 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NHPC.
NHPC Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹42.32B | 37.36 | ― | ― | -6.49% | -3.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹283.88B | 41.02 | ― | ― | 47.52% | 55.26% | |
52 Neutral | ₹769.58B | 128.77 | ― | ― | 42.12% | 8.54% | |
51 Neutral | ₹765.43B | 20.15 | ― | 2.44% | 12.02% | 24.12% | |
48 Neutral | ₹259.60B | 40.78 | ― | 1.94% | 60.47% | -7.36% | |
45 Neutral | ₹2.17T | 122.79 | ― | ― | 10.30% | 1.33% |
* General Sector Average
IN:NHPC
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-1.75
-2.25%
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NHPC Limited Corporate Events
NHPC Signs Deal to Develop 3,097 MW Etalin Hydropower Project in Arunachal Pradesh
Jun 16, 2026
NHPC Limited has signed a Memorandum of Agreement with the Government of Arunachal Pradesh to implement the 3,097 MW Etalin hydropower project on the Dri and Tangon rivers in the Dibang Basin. The project will be developed as a run-of-the-river sc...
Government Trims NHPC Stake via Offer for Sale, Keeps Majority Control
Jun 5, 2026
NHPC Limited has disclosed that its promoter, the President of India acting through the Ministry of Power, has reduced its stake in the company via an offer for sale of equity shares on the National Stock Exchange of India and BSE. Following the s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.